Pharma Update

Additional dimensions Prioritization of our R&D investments Pharma portfolio management with an end-to-end perspective 100% Go Low risk Low Risk Cost focus Low reward High reward POL 50% 90 0% Low Disease area strategy High Risk Low reward 1 ΠΠ POL-probability of launch; rNPV-risk-adjusted net present value; uNPV=unadjusted net present value High Risk High reward rNPV Bubble size = uNPV High First-in-class/ best-in-disease Move fast and make broad investments Mitigate Risk Gate larger investments on further data readouts Platform technologies 29 Roche

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